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Real-time News
On March 24, it was reported that on the morning of March 23, Shen Zhulin, Vice Chairman of the National Development and Reform Commission (NDRC), met with Mr. Kelley, Chairman of the Executive Board of BASF Group, at the NDRC headquarters. The two sides exchanged views on topics including Chinas 15th Five-Year Plan (2016-2020), the green and low-carbon development of the chemical industry, and BASFs development in China. Shen Zhulin stated that the 15th Five-Year Plan (2016-2020) clearly defines key development directions such as green development, digitalization, building a strong domestic market, and expanding high-level opening-up, providing new development opportunities for foreign-invested enterprises, including BASF, in China. China welcomes BASF to expand its investment in China, strengthen technological innovation and the application of new technologies, increase product added value, and expand its development space.The UK CBI retail sales balance for March was -52, compared to -43 in the previous month.Market news: Israel says Iran’s latest missile launch has been intercepted, and debris was found in Kiriat Gat.The UKs March CBI retail sales balance will be released in ten minutes.On March 24th, at the companys earnings conference, Lu Weibing, head of Xiaomi Group, stated that the speed and magnitude of this round of memory price increases were higher than the company had anticipated, posing a significant challenge to Xiaomis operations. The lower the proportion of memory costs in the overall product cost, the smaller the impact on the product. Xiaomis balanced "people, car, and home ecosystem" allows the company to better cope with rising memory prices. Furthermore, the higher the price of the phone, the smaller the impact. With the advancement of Xiaomis high-end strategy, it can cope better than its competitors. Therefore, although the pressure is significant, Xiaomi is relatively better off; however, if it cannot withstand the pressure in the future, Xiaomi may also raise prices. Lu Weibing believes that more attention should be paid to what will happen after the price increase cycle. He predicts that it will intensify the reshaping of the industry landscape; on the one hand, some companies may even be eliminated; on the other hand, it will force companies to innovate more.
